FDBusiness.com

Nestle Completes Disposal of Alcon

 Breaking News
  • Firmenich Launches Advanced Natural Flavour Solutions For High Protein Beverages Firmenich, the world’s largest privately-owned company in the flavour and fragrance industry, has officially launched its Protein Shield Flavors, a new line of natural flavour solutions aimed to help developers address the challenges they face when creating beverage products with high protein content. “These natural solutions confirm Firmenich’s deep commitment to advancing health and wellness,” says Chris [...]...
  • JDE Invests Heavily in Kenco Coffee Company Rebrand Jacobs Douwe Egberts (JDE) Professional has unveiled a fresh, new brand positioning for Kenco The Coffee Company, complete with a bold new logo and pack design. The new design brings to life the heritage, passion and expertise behind the well-loved brand, helping to further boost value and volume growth across the sector. The Kenco brand is [...]...
  • ABP Food Group in £22 Million Renewable Energy Project A £22 million investment by ABP Food Group’s renewable division in a green energy plant will produce enough sustainable energy to power the equivalent of 12,000 homes. ABP’s renewables division, Olleco, has just opened the new 15 MW Anaerobic Digestion facility in Aylesbury, Buckinghamshire. The ABP Food Group facility is located adjacent to the Arla dairy, [...]...
  • How Steel Packaging Contributes to Saving Food A new film from APEAL, the Association of European Producers of Steel for Packaging, has been launched to highlight the unique preservation qualities of steel packaging. Having recently welcomed the European Parliament’s (EP) initiative report – Resource efficiency: reducing food waste, improving food safety – APEAL is increasing its own efforts to drive improvements in managing food waste [...]...
  • New Website Brings Easy Access to Food Processing Equipment Interfood Technology has launched a new website to provide an easy-to-use resource for sourcing the latest in food technology and processing equipment. The site has been introduced to coincide with the company’s relocation to new, larger premises and marks another significant investment in Interfood’s development. The main reasons behind the complete revamp from the company’s previous [...]...

Nestle Completes Disposal of Alcon

Nestle Completes Disposal of Alcon
August 26
13:42 2010

Nestle has completed the sale of its remaining 52% stake in Alcon, the global eye care business, to Novartis for $28.3b.

Nestle acquired Alcon in 1977 for $280m. Over the years, Nestle supported Alcon’s R&D drive and international expansion, enabling the company to build a significant global leadership position in ophthalmology.

Paul Bulcke, chief executive of Nestle.

Taking into account the three steps of the gradual divestment of Alcon – the initial IPO of 23.25% in 2002, the sale of 24.8% in 2008 and the sale of Nestle’s remaining Alcon shares to Novartis – Nestle has realised $41b.

As an immediate result, Nestle will substantially reduce its net debt position, which stood at SFr29.6b ($28.7b, Eur22.6b) at the end of June 2010. Nestle will continue to seek opportunities to accelerate its development in core areas and, through responsible capital management, maintain its AA rating – the gold standard credit quality in the industry – while providing a competitive return to its shareholders.

“This divestment of our interest in Alcon will enable our management to concentrate on accelerating Nestle’s transformation as the world’s leading nutrition, health and wellness company,” remarks Paul Bulcke, chief executive of Nestle.

About Author

colin

colin

Related Articles



Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • October 19, 2017PMA Fresh Summit 2017
  • October 21, 2017Food & Nutrition Conference & Expo 2017
  • October 22, 2017Serbotel
  • October 22, 2017Natexpo
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber





Subscribe Here



Advertisements